ETH is not competing against your 100x memecoin.

ETH is competing against gold, t-bills, and bitcoin.

I don't even see it competing against bitcoin.  One's a shark; one's a lion.  They do different things

Now to come up with the narrative about what it IS competing against.

closed source cloud servers?

my 100x meme coin is paired against ETH

it's not only not competing but a small little part of it's ecosystem.

Bitcoin will be the first one to lose, shortly followed by gold. Treasury bills and bonds will follow a few years after.